Energy investment in UK reaches £43bn

Powering the UK, a new report from Ernst & Young carried out for Energy UK, investigated trends in investment and jobs in the energy sector across the UK. It found: Energy investment reached more than £10bn in 2011 £43bn was invested by energy companies in the UK economy in the last four years, through spending on power generation, networks, and gas storage and important facilities.

This amounts to greater investment than any other sector.

The total contribution of the energy sector to the economy reached £86bn in 2011, measured by the contribution to GDP.

Direct employment increased from 83,000 in 2008 to 137,000 in 2011, with the total number of jobs linked to the sector rising to 654,500.

However, an analysis of investment trends raises concerns that the economic climate and policy uncertainty are now slowing down decision-making and delaying new projects. The UK remains attractive to investors but greater certainty on energy policy is needed.